North Carolina Solar Information

North Carolina isn't a bad state for solar but far from the strongest. There is a state tax credit that reduces your income tax. Along with basically wiping out your state income tax although not required by the state the three major utilities servicing all of Idaho offer net metering. As always in Idaho you are entitled to the 30% federal tax credit.
  • #19
    North Carolina ranks in America for savings from installing solar panels on
  • #6047.01 kWh
    AC Energy output every year in North Carolina in 4 kW system
  • #5.32 kWh
    Solar Radiation (kWh / m2 / day)
  • 11 ¢ /kWh
    The cost of electricity today in Central Electric Membership Corp
  • 23 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years

California Solar Facts

  • $1.56
    Average cost of a 4kw solar power system in 2019.
  • 5 years
    Average system payback period.
  • $47 934
    Average lifetime savings.
  • 4 ¢ /kWh
    Levelized cost of solar energy.
  • 5 kW
    Recommended system size.

North Carolina is one of the leaders in the solar industry. The state is getting on average five peak sun hours per day, which ranks it the top half among other states. In addition, North Carolina is known for its excellent solar incentives and rebate programs. Considering all this, getting solar panels in North Carolina is a great investment.

North Carolina Solar Facts

  • North Carolina’s growth projection is estimated to be 4,050 MW over the next 5 years.
  • By the year 2020, 12.5% of all electricity in North Carolina has to come from renewable sources.
  • The solar payback period in North Carolina is one of the shortest in the country and can be as little as 8 years.
  • North Carolina is considered one of the fastest-growing states in solar energy production.

The Cost of Solar Panels in North Carolina

As of September 2019, the average cost of a solar panel in North Carolina is $2.85/W. Therefore, the cost to install a 5kW solar panel system would range from $12,000 to $16,500. On average, one can expect to pay a gross price of $14,000 for solar in North Carolina. This price does not account for Federal Tax credit or any other rebates or incentives. Once those accounted for, the net price will fall drastically.

North Carolina Solar Rebates and Tax Credits

The Federal Investment Tax Credit - with this government program, you get a 30% credit on your federal taxes in the following year, including parts and labor. The tax credit does not have a limit on its value.

North Carolina's Solar Property Tax Exemption - North Carolina has an 80% property tax exemption for residential properties value increases from installing solar.

North Carolina Solar Incentives

Duke Energy Solar Panel Rebates – If you are a customer of Duke Energy, you might be eligible for an excellent solar rebate. The rebate is offered for new solar customers only, and the application must be filled out before the solar power system is installed. For residential customers, the program offers a rebate of $0.60/Watt for systems up to 10 kilowatts. An average 5kW solar system would be eligible for a rebate of $3000.

Building Permit Incentive – If you are a resident of the city of Asheville, NC, you will get a $50 rebate for a building permit to install a solar power system.

Net Metering - In North Carolina, Net Metering is available through its three major utility companies - Duke Energy, Progress Energy, and Dominion North Carolina Power. Homeowners connect their solar power systems to the grid and receive credits for the surplus energy generated by their systems. These credits are applied to next month's bill at a full retail price.

  • How much do solar panels cost in North Carolina
  • $1.56
    per watt
  • $6 322
    total
  • 5
    years

Pros and Cons of Buying Solar Panels in North Carolina

Pros:

  • +

    Relatively short payback period

    The solar payback period is the amount of time it will take to completely pay off your solar power system. Nowadays, solar panels are more efficient than ever before, meaning they produce more electricity thus reducing the energy payback period. Depending on where you live in North Carolina, your solar panels might be paid off in as little as 8-9 years.
  • +

    After the payback period, solar power is nearly free

    Depending on the utility company you are using, you might be still paying a small interconnection fee to keep your solar power system plugged in after its capital cost is paid off. Besides that expense, all the electricity your PV system generates will be free.
  • +

    Great savings on a monthly electric bill

    As soon as you install a solar power system on your home, you will start generating your own electricity. It means relying less on your local utility company, no worrying about utility rate inflation, and saving money on your monthly electric bill. The average monthly savings from solar in North Carolina is $122.
  • +

    Helping the environment since solar energy is clean, sustainable, and renewable

    Solar energy is plentiful and renewable. Moreover, generating solar power does not cause almost any pollution. When compared to some of the traditional fossil fuels, solar energy does not lead to the contamination of water and the atmosphere. On the contrary, it helps reduce the greenhouse effect and lowers our negative impact on the natural environment.
  • +

    Support from the government and the state

    Today, the cost to install solar panels is much lower than what it used to be a few years ago. With the help of the Federal Tax Credit and the state programs and incentives, the price of the solar power system is reduced by thousands of dollars.
  • +

    Very low maintenance

    All of the solar panels today require only minimal maintenance, which consists of cleaning them a couple of times a year. In addition, solar panels are not expected to have any wear and tear with usage since they do not have any moving parts. Moreover, solar panels are inaudible when in operation.
  • +

    Excellent warranty protection

    In the market today, each solar panel comes with two types of warranties: a product guarantee and the performance warranty. The majority of top solar manufacturers offer extended product guarantees (up to 25 years) that will take care of any breakage or faulty equipment, and some ensure up to 90% efficiency in electricity generation even after 25 years of usage.
  • +

    Increase in the property value

    Zillow’s most recent real estate study on the impact of an installed solar system revealed a national increase of at least 4.1% to the value of the home. Moreover, according to recent studies by the Appraisal Institute, homes with installed PV systems sell both at higher prices and much faster compared to homes without solar power systems.

Cons:

  • -

    The possible high initial cost

    Many people are concerned with the initial cost to install a solar power system since the cost will include solar panels, battery, inverter, all the necessary accessories, mounting equipment, the installation itself, and therefore can become relatively high. However, solar prices are lower than ever before, and with the availability of various tax credits and rebates, it is a very smart investment.
  • -

    Must have a large, open area for installation

    Solar panels must be mounted on open, clear surfaces to operate efficiently. To generate solar energy, they depend on sunlight, and the more energy you need, the more solar panels you will need to use. Thankfully, as long as solar panels still have access to sunlight, solar panels can be installed not only on the roofs but also on the ground.
  • -

    Must be a property owner to install

    The installation of solar power systems is now mostly open to homeowners with excellent credit and/or good earnings. For renters, low-income individuals, or individuals without a job, solar advantages are not yet available.

Is It Worth Going Solar In North Carolina?

When comparing North Carolina’s solar energy advantages and disadvantages, it is clear that the advantages significantly outweigh the disadvantages. With the prices lower than ever and with the solar incentives being one of the best in the country, there is no better time to install solar power system and start saving money on your electric bill while helping keep North Carolina clean and beautiful.





According to Central Electric Membership Corp, we received the cost of kWH in your area and calculated energy consumption based on an average electricity bill for 3 months.
I am claiming the 30% Federal Tax Credit (ends 2019) i

When you install your solar system, 30% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.

Most people are eligible to claim this credit (you must owe federal taxes to be eligible).

Relevant product for your system

Entry-level solar panels
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Entry-level microinverter
See all microinverters
Entry-level inverter
See all inverters
  • Mini
  • Small
  • Medium
  • Large
We recommended
4.04 kW medium system size
Provides up to 80% of electricity consumption
$1.56 per watt
Average system cost
  • image rec 3
    13 x 325 watt
    solar panels
  • +
  • image rec 3
    13 x 300 watt
    microinverter
  • +
  • image rec 3
    1 x 5 000 watt
    inverter
$85.71
in month. Estimated savings
on your average quarterly bill
  • $6 322.06
    Estimated system cost
    Excludes 30% Federal Tax Credit.
    This price does not include the installation cost.
  • 5 years
    Average system
    payback period
  • $47 934.35
    Estimated utility savings

Example of 4 kW system calculation in Minnesota for electricity bill $100

  • 11 ¢ /kWh
    The cost of electricity today in Central Electric Membership Corp
  • 23 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years
  • 4 ¢ /kWh
    levelized cost of solar energy

Get the results of the calculation in the mail

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